So you’ve put off buying life Insurance and you have all these good reasons:
- You’re healthy so it’s a waste of money.
- You can always get it later.
- Your spouse has an income so life insurance isn’t necessary.
- You have enough savings and assets.
- It’s too complicated.
Really? Let’s Take Another Look
If you buy life insurance now while you’re young and healthy, you will pay less for it than you will at any future time. If you wait until you are sick to buy life insurance, you’ll pay a very high price for it IF you can buy it at all. Most insurance companies aren’t keen on issuing life insurance policies to the terminally or chronically ill. Bad health makes you a poor risk and insurance is all about managing and minimizing risk. Don’t count on being able to buy it in the hypothetical later. Later may not ever come.
If you have people who depend on you financially, buying life insurance when you are young and healthy means you’ll pay less for better coverage.
Your spouse has an income? Great! Will it cover all of your combined expenses if you die? Will it pay for child care, housekeeping, the mortgage, the car payments, medical bills, tuition? Just because you aren’t there any more, the household expenses don’t get cheaper. Life insurance protects your family and helps prevent drastic lifestyle changes in the event of your death. Do you really want your spouse to have to sell the house and cars right after the funeral—or to pay for your funeral? And what if something were to happen to your spouse at the same time (yes, it happens)? How would your children manage?
You have savings and assets. Are they liquid enough to provide for your family’s financial needs? Or will your death mean they are selling off those assets to put a roof over their head and food on the table? If you have enough money in the bank that it will see your children through college, you are definitely one of the lucky few.
Here are just a few of the ways life insurance can help your family.
- Pay for funeral expenses.
- Pay off debts.
- Pay the mortgage.
- Help provide an education for your children.
- Provide child care for a widow that has to return to the workforce.
- Allow your spouse time to grieve and recover before having to make major financial decisions.
- Protect a family business from immediate closure or sale.
Life insurance isn’t about YOU; it’s about protecting your family’s financial future and helping one traumatic emotional loss not become a traumatic financial loss as well.
Life Insurance doesn’t have to be complicated. That’s what an insurance agent is for. It’s their job to help you understand your life insurance options and explain them to you in language you understand. If they aren’t doing that, you have the wrong agent.
Making insurance decisions easy is what we do at Roper Insurance. For a FREE insurance review to make sure you are adequately protected or for help in understanding your life insurance options, give our insurance experts a call now at 303-721-1145 or use the contact button above. Don’t put off this important decision. Protect your peace of mind and your family’s financial future now.